[2016-04-23] Ethereum Developer Vitalik Buterin Sold 25% Of His Coins

[jdebunt]

Andreas Antonopoulos is the voice of reason in this discussion, as he pointed out this is a smart way for Vitalik Buterin to diversify his portfolio. No one is holding onto just one cryptocurrency with all of their money, as they either hold other coins, precious metals, fiat currency, or any other commodity as well. Diversification is a solid investment strategy for everyone.

http://themerkle.com/ethereum-developer-vitalik-buterin-sold-25-of-his-coins/

[alani123]

I'm in no position to doubt Ethereum's founder statement about him selling ETH but I'm just wondering if there are any information out regarding how much he sold. Could it have been him that caused the recent market crash? I assume that he didn't announce selling right after doing so.

[1Referee]

Of course he is selling a good portion of his coins, who wouldn't do it with the price of ETH having reached a value of more than 0.03BTC per coin!! The only real question is...... How much is 25% of his total ETH balance? I am fairly sure he holds at least 1,000,000 and that's quite a defensive guess about how many coins he hold.

[gentlemand]

I think he tweeted it was 1.8 million. His toy, his right to sell I guess. I wonder how well they've been utilising their funds so far though. There've been a few hiccups and them closing their forum is dead bizarre.

[aso118]

At least in stocks, insiders are supposed to inform exchanges about their trades and there are blackout periods during which no trades can be carried out. Unfortunately, no such restrictions exist in the crypto world.

[alani123]

I think he tweeted it was 1.8 million. His toy, his right to sell I guess. I wonder how well they've been utilising their funds so far though. There've been a few hiccups and them closing their forum is dead bizarre.

That was the foundation

https://twitter.com/VitalikButerin/status/723573508010348545

[TraderTimm]

He's not doing anyone any favors by satisfying the "dump" part of the equation.

It doesn't breed confidence when the founder divests himself of his own project, no matter what the immediate needs were. But perhaps he is thinking ahead, and realizing that its better to get something at a non-zero price now, than later when it has flat-lined....

[Bitware]

We called this classic alt-coin pump and dump back on Februart 13^th.

https://bitcointalk.org/index.php?topic=1361113.msg13867577#msg13867577

https://bitcointalk.org/index.php?topic=1361160.msg13867543#msg13867543

You're welcome.

[pbleak]

If he trusts his tech, as clearly he does, and needs funds now I don't see the harm. After all it really comes down to whether he succeeds long time and not whether he keeps all his coins just to satisgy current market needs.

[TraderTimm]

If he trusts his tech, as clearly he does, and needs funds now I don't see the harm. After all it really comes down to whether he succeeds long time and not whether he keeps all his coins just to satisgy current market needs.

At 7.75 and falling, he probably saw the writing on the wall and got out while the getting is good. Any remaining ETH he holds is pure speculative at this point, and I dare say a big mistake as the whole project is set up to decrease in value. Zero cap on production, units valued by computing per/unit, which as we know is a huge downward pressure on pricing. CPU cycles are getting cheaper every year, not more expensive.

But anyone with basic logic can suss this out, what amazes me is the absolute HOPIUM surrounding the project itself. Nobody has a pressing need for decentralized computing at this point, and there are plenty of free open source alternatives and commercial providers to choose from.

Its been dead in the water since its inception, and they're just gradually realizing this.

[Amph]

he went out, "just in case it fall, so at least i got my revenue from this", better safe than sorry mentality, you could not really blame it, everyone here would have done the same, because only bitcoin is the one that you can hold safely for the the moment.....

[thejaytiesto]

If he trusts his tech, as clearly he does, and needs funds now I don't see the harm. After all it really comes down to whether he succeeds long time and not whether he keeps all his coins just to satisgy current market needs.

At 7.75 and falling, he probably saw the writing on the wall and got out while the getting is good. Any remaining ETH he holds is pure speculative at this point, and I dare say a big mistake as the whole project is set up to decrease in value. Zero cap on production, units valued by computing per/unit, which as we know is a huge downward pressure on pricing. CPU cycles are getting cheaper every year, not more expensive.

But anyone with basic logic can suss this out, what amazes me is the absolute HOPIUM surrounding the project itself. Nobody has a pressing need for decentralized computing at this point, and there are plenty of free open source alternatives and commercial providers to choose from.

Its been dead in the water since its inception, and they're just gradually realizing this.

You are right on the money. Im sure the guy is hating himself right now because he was not able to sell right at the big ETH price peak. So he waited for a while.. then he saw that

1) Bitcoin is steady rising
2) His coin is steady going down

and pulled the trigger. I don't buy any bullshit excuses about selling to re-invest on the project. Dumping 25% of your stuff will damage the project itself more than what you can re-invest in it. Anyone with market psychology knowledge knows this.

[wizardee]

Dumping 25% of your stuff will damage the project itself more than what you can re-invest in it. Anyone with market psychology knowledge knows this.

Yes that so true!

[Mrmoney2]

Yeah! LISK has killed Eth and he knows it.
He will jump on Lisk as soon he can..

[alyssa85]

If he trusts his tech, as clearly he does, and needs funds now I don't see the harm. After all it really comes down to whether he succeeds long time and not whether he keeps all his coins just to satisgy current market needs.

At 7.75 and falling, he probably saw the writing on the wall and got out while the getting is good. Any remaining ETH he holds is pure speculative at this point, and I dare say a big mistake as the whole project is set up to decrease in value. Zero cap on production, units valued by computing per/unit, which as we know is a huge downward pressure on pricing. CPU cycles are getting cheaper every year, not more expensive.

But anyone with basic logic can suss this out, what amazes me is the absolute HOPIUM surrounding the project itself. Nobody has a pressing need for decentralized computing at this point, and there are plenty of free open source alternatives and commercial providers to choose from.

Its been dead in the water since its inception, and they're just gradually realizing this.

You are right on the money. Im sure the guy is hating himself right now because he was not able to sell right at the big ETH price peak. So he waited for a while.. then he saw that

1) Bitcoin is steady rising
2) His coin is steady going down

and pulled the trigger. I don't buy any bullshit excuses about selling to re-invest on the project. Dumping 25% of your stuff will damage the project itself more than what you can re-invest in it. Anyone with market psychology knowledge knows this.

Do we know when exactly he sold? I wouldn't be surprised if he sold at the top of the pump.